You couldn’t by any stretch of the imagination call it a flood. Still there are more IPOs scheduled to come to market this week then there have been in about a year. The number is three, which by long journalistic convention constitutes a trend. Two of the prospective new listings are Chinese companies: Chemspec, a specialty chemicals maker, and Duoyuan Global Water Inc, which makes water treatment equipment. The third is Medidata, a US company which makes medical clinical trial software.
What does it mean? Maybe nothing. There are several Chinese IPOs in the pipeline. Meanwhile, US markets look to have run out of gas. Still, some financial types (not least of which private equity managers praying that they’ll finally be able to unload some of their portfolio companies) have been heard speaking wistfully about the long drought maybe coming to an end.